If you’re looking to emigrate from SA you cannot simply move your money out of the country, there are steps that need to be taken, says founder and CEO of Cashkows.com Ryno Viljoen. This process is known as financial immigration. Viljoen says if you choose to early surrender your retirement policies and annuities make sure you’re aware of the risks as you will likely face tax penalties for early withdrawal. Viljoen tells Business Day TV about the laws around immigration and how this may affect your retirement savings below. In part two of the discussion, Viljoen discusses whether to complete the process of financial immigration alone or seek help from professionals.
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